New tax law brings changes to tax withholding for 2018; here’s what you need to know

Major tax reform was approved by Congress in the Tax Cuts and Jobs Act on Dec. 22, 2017. One change directly affected the rate at which taxes are withheld from paychecks. Our federal income tax is a pay-as-you-go tax system and there are two ways to pay as you go, either through withholding or estimated tax payments.If you are an employee, your employer may withhold income tax from your pay. Yo...